What Yogi Berra Can Teach Small Business Owners About Estate Planning

According to baseball legend Yogi Berra, “If you don’t know where you are going, you will probably end up somewhere else.” Yogi’s one liners often make me laugh, but they also make me think. His quip reminds me of the importance of having a plan when engaging in any endeavor that will impact our personal situations beyond the immediate here and now. That includes the process of estate planning. Now, I will grant you that Yogi probably wasn’t thinking about estate planning when he offered this particular slice of wisdom. Nonetheless, his words are absolutely spot-on insofar as the importance of planning for that day which we will not live to see. As important as having an estate plan is for all of us, it is of even greater importance for the small business owner. I think it is no exaggeration to say that thoughtful estate planning is an essential component of every small business owner’s overall business plan.I think of a successful small business owner as someone who recognizes an opportunity to provide a needed product or service, and then invests the time, devotion and energy to developing and implementing a plan to seize that opportunity. I admire those thoughtful risk takers who harness their vision, business acumen and moxie in order to create, nurture and guide a sustainable business venture. I have found the small business owners I counsel to be thoughtful, deliberate and attentive to detail in how they go about the work of managing their businesses; i.e., they plan for the future. However, what I have also noticed from time to time in otherwise prudent and successful small business owners is a lack of any plan for their business when they die or are otherwise unavailable to manage it.It is easy to understand how even successful small business owners who are otherwise consummate planners might prefer to avoid estate planning as it concerns their business operation. In at least one respect, these successful business owners are a lot like most people; that is, they are not accustomed (or inclined) to ponder their own mortality. It is a subject, even if not loaded with angst, which easily lends itself to defer consideration for “another day.” Yet, the stubborn reality remains that absolutely none of us will get out of this life alive. For the small business owner, Yogi’s wise counsel merits some thought, and action.If you are a small business owner and have yet to start the estate planning process, let me suggest some relatively easy first steps to get you started. First, locate and then review your company’s organizational and governing documents. If your business is incorporated, these would include the corporate bylaws, shareholders’ agreements and those other documents your lawyers drafted when the business was getting started. If your business is a limited liability company or partnership, you will want to look at the company’s operating agreement or partnership agreement. Review these documents with the following questions in mind:- How will your death (or permanent incapacity) affect the company’s existence?- How will your successor be chosen, by whom and how much say do you presently have in that decision?- Will your death trigger a buy/sell provision by which a co-owner, or the company itself, is allowed to purchase your interest in the business, notwithstanding the wishes of your own family members?A brief review or discussion with your lawyer of questions like these may then prompt you to begin thinking about your vision for the company’s future when you are no longer able to guide it. A next step might be to consider how you would want the business operated in the event of your temporary incapacity or unavailability. A durable power of attorney will allow you (as the “principal”) to designate someone else (the “agent”) to make business decisions during your incapacity, while allowing you to retain the ability to withdraw or revoke the POA when you are ready to resume control of the business.The POA itself might serve as the genesis of a comprehensive succession plan, by which you map out a plan to reduce your own involvement in the business and allow others to assume greater management and decision making responsibilities. An orderly transition plan is apt to increase the company’s odds of survival when you are gone. And, such a plan may help you to “let go” of control and devote more efforts to mentoring those who will eventually run the business you created.Ultimately, you will want to focus your planning on what you want to happen to the business when you have died. Here, a well-designed trust agreement will allow you a great deal of flexibility, both in terms of retaining a degree of control while you are alive, and identifying your intentions with respect to the business after you die. The trust agreement enables you to select those who will administer your stated intentions when you are gone. You can, for example, provide for the sale and/or dissolution of the business over time, or provide for its eventual transfer to one or more family members. A trust agreement allows the owner a great deal of flexibility and for that reason makes it an extremely helpful tool in the business owner’s estate plan.The bottom line is that you, as the small business owner, have the ability to ensure that with careful planning the company you created will survive your passing. This is a process that can be tackled incrementally over time. Given the uncertainties of life, however, the estate planning process should become a component of your overall business plan. There is no time like the present to start this process. Don’t be lulled into putting this task off for “another day”. None of us know how much of a future we will have. Or, as Yogi puts it, “It may be getting late earlier than you thought.”© 6/16/2015 Hunt & Associates, P.C. All rights reserved.

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How to Stay in Your Job, Study For a Bachelors Degree Online – And Save Money!

So, the dilemma is: How do I get the bachelors degree I need without having to give up the job I need? A difficult question! Fortunately there is an easy answer: Study online.What I didn’t realise about online education is that it really ties in with your professional development and present job. It’s just a matter of choosing the right course for your educational needs.With vocational courses, online education provides the perfect balance between your main job and studying. It’s integrated, and the online colleges are very much aware of both your personal and academic needs – usually because they’ve arrived in their positions, as online bachelors degree teaching staff, straight from the sector you are working in right now.My online bachelors degree is fantastic in the way I can access information, classes, and get more contact with tutors than I could ever have got in a conventional college environment. And the guidance from staff works. They know I’m working, they appreciate my time constraints, they appreciate that I am actually doing what I am learning, they appreciate I have responsibilities – both personal and professional.The course, or rather the way in which the course is delivered online, fits in very well with my job. Three months into my BA degree online and I’m getting more done at work, rather than less, which was what I would have imagined if someone told me I could study online for a degree and work at the same time.I’m saving money too. No travel expenses to worry about, and an hour each way getting to college would have equated to less hours work or less hours with the family so that’s got to be worth something!Still unsure about my choice of online education? Well let me tell you about the Virtual Learning Environment or VLE. This is essentially how technology puts all things you need to learn online in a web based setting.The VLE is both a tool and a philosophy. That everything you need to learn your online BA degree is readily available, nearly any time you need it. Classes, communication with fellow students and teaching staff, syllabuses, course content, lecture notes, research material, classes (broadcast both live and archived for future reference) and lots, lots more. In fact enough for you to study for your BA degree without having to actually step foot in a college.The whole point about the VLE is that it is easy to access, easy to use, and easy to make the most of to get the best from your online bachelors degree.I’m glad I chose to do my BA degree online at Kaplan Open Learning rather than enrolling at a college that would have been costly in both time and money. The only question now is whether I will develop my existing role, get an improved position where I presently work, or go to a different company to make better use of my degree – whatever I choose, it will be a step in the right direction.

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Is There Training in Trump Network?

There are many network marketing that one can sign up with and achieve success. But in order to have success, you must either already have skills or you need to join a company that will give you those skills. Trump Network is a fairly new network marketing company and yes, the founder is Donald Trump himself. But what does Trump network have to offer and will it offer the kinds of trainings you need to acquire success within the company? This is my question.My goal here today is impart to you some insight on Trump Network. I also wanted to see for myself what the company has, but more importantly, I want to see the kinds of trainings Trump Network has to offer the newbies in the company and whether it is going to be the kind of training that will be sufficient enough to allow anyone to generate leads and earn a lucrative income.First,, for those who don’t know, Trump Network is the new name of the network marketing company owned by Donald Trump. Mr. Donald Trump became owner of Ideal Health and launched it under his name in October 2009.Now, the first thing I looked at was the compensation plan. Essentially, to get started, Trump Network has what is called the “FastStart Way”. It costs $497.00. After making your payment, you will are given various products, coupons, a business kit, marketer kit, and some kind of communication program. In order to enjoy the full compensation, it is essential that you signup for an autoship of at least 100 CV, which cost you around $129.20 monthly.For every person you recruit into the Trump Network mlm company, you receive $100.00. Not bad. I have seen companies pay only $50.00 for this, so this is a plus to me.Other ways of earning in Trump Network are as follows:1. Get paid on all of the sales that the new people who join your business anywhere in your 7 levels.
2. There is also weekly bonuses.
3. There is Exceptional bonus potentials
4. There is weekly Fast Start bonuses.Thus, in other words,, you have your standard compensation plan.But, initially my goal was to determine the kind of training offered to its members by Trump Network. Upon more research, this is what I found. There are a number of tools that can be used to help with your business. They are:1. Trump Network Dual/Disc presentation that you hand out 2. Internet webinars, where you can invite other people 3. Personalized website that every new marketer receives.All in all, the tools and trainings provided by, the Trump Network network marketing company, teaches you to use primarily offline marketing. You are taught how implement presentations using the various products, tools like the cd’s, and word of mouth. By talking to as many people as you can, you can invite them to your web site and/or incite your prospect to a presentation, i.e. a webinar.I am familiar with this kind of marketing it does work, but my experience is,unless you are comfortable with talking to people and you either possess the sales skills or you have a large list of people that you can talk to, trying to build a business using these offline marketing strategies will require a lot of work. You will also deal with a lot of rejection and the a poor attrition rate.. But, by all means try using these methods and determine how well it works for you. Possibly, you could be one of the few who does well.I imagine the Trump Network offers a great business opportunity. It has products that are consummable, which allows for reorders from customers. It also has a compensation plan that allows one to move through the various levels and as you move up, of course you make more money. It looks as if you can create a significant income with Trump Network. Many members will make a lot of money, specifically in the early stages of development in Trump Network. But, unfortunately, there is no indication of how well, or how long, this company will endure.The one trouble that I do see that has happened often in the MLM industry is that many individuals are inclined to not to take their business serious. Trump Network , alone is not going to make you rich. It will require a lot of effort and it is how hard you are willing to work that is will determine your success. In addition, the marketing methods imparted will also determine your success. The trainings given is Trump Network’s weakness.First of all, keep in mine, Trump Network is a new company. There have been many new network marketing companies that have started and are presently, nowhere to be found. If Trump Network is not a successful business, then a lot of distributors in Trump Network will be back where they started, unhappy, broke and either looking for a new business opportunity or have given up their network marketing dreams.To experience success in a home business, you do not want to be dependent on some company. You want to rely on yourself. This means you need to be branding “YOU” and not some business. In saying this, there are essentially four things network marketers need to put into place in order to put themselves in a position of success. It is all about how you market yourself.Here are the things you need to drastically increase your chances of success in any network marketing company, not just Trump Network.1. Brand “YOU”:Network marketing is a people business, which means people join people, not businesses. In essence, they aspire to follow a leader who can show them what to do to become successful in their business and YOU should be that leader.2. Marketing Training:You need some kind of training system or some form of system that can train you cutting edge marketing strategies for both online and offline marketing. You need to spend time investing in yourself skills that will benefit you to grow your business and learn how to sell your most important asset, which is YOU.3. Using the Internet:”Old School” marketing methods, like the ones the Trump Network primarily teaches, work, but not quite as well as the style of marketing you can perform on the internet. The sooner you achieve this the better. The internet is a compelling tool. It can be used to explode your business. The tools and leverage given by the internet can assist you to decrease the time and effort spent increasing and developing your business.4. Use A System:Why? Systems Work! You need some kind of lead generation system to help you expand your business. It should be a system that provides trainings on how to efficiently promote your business. It should also impart a sales funnel, which will assist you to create an earnings, even if no one signs up with you in your opportunity. You don’t want to depend on your opportunity for income.The MLM industry is hard and it is going to be much more difficult for you if don’t use smart business practices. Unless you have a lot of money, it is best to have an alternative means of generating an income so you don’t stay broke while you are building your business. Implementing a sales funnel will aid in you staying in the game of the network marketing arena.By using these four steps, you will definitely get results. What I discussed is precisely what the top earners are doing to develop their business. They use similar methods and motivate themselves to push more until they create results. You should do the same.

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